24 September 2012

World Bank and Others Poised to Invest in Rio Tinto’s Flawed Mongolian Mining Project

Accountability Counsel and 5 other organizations filed a joint press release about planned international financing of the Oyu Tolgoi gold and copper mine in the South Gobi desert.  Among other problems, the recently released Environmental and Social Impact Assessment (“ESIA”), which potential funders such as the World Bank, the European Bank for Reconstruction and Development, the U.S. Export Import Bank, Export Development Canada, the Australian Export Finance and Insurance Corporation, Standard Chartered and BNP Paribas will use to assess the project, covers only the construction phase, which is already over 94% completed.  Learn more on our Mongolia case page.